BlackSwan_DAR
Long

EOSUSD: from a risky point to a good entry point?

BITFINEX:EOSUSD   EOS / Dollar
Hello guys,
following EOSUSD during these last days I'm convinced this could be at a good long entry point.
I know it's exactly the opposite I wrote one week ago but I did't expect all this resiliency against BTC . In fact, if we also analyze EOS against Bitcoin we realize how EOS is leaning on the 200 daily MA and this can facilitate rebound of price. So if we buy EOS at this level against USD or BTC , we have in both cases, small stop loss but interesting bullish target.
In case we buy EOSUSD stop loss must be set around 6.8 USD, with a potential loss of about 4.5% but with a possible first bullish target to around 7.75 USD or 8.6% of gain. In my opinion is a good risk/reward ratio.
Volume is not particularly exiting, but we also to consider volume of general market is particulaly low also due to the part of the year.
Indicators on both charts are set to support a possible bullish movement.

To sum up:
if we buy EOSUSD at 7.13 (current price)----> TP1 7.70/7.75 USD----> TP2 8.1/8.15 USD SL 6.8 USD

***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***

Trade closed: stop reached: Excellent timing… the idea of a week ago was definitely better

Comments

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